A.M. Best Assigns Rating to Senior Unsecured Debt Offering of Reinsurance Group of America Incorporated.
OLDWICK, N.J. -- A.M. Best Co. has assigned a debt rating of "a-" to $400 million 6.45% senior unsecured notes due 2019 of Reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. Group of America Incorporated (RGA RGA Reinsurance Group of America
RGA Return Goods Authorization
RGA Republican Governors Association
RGA Residual Gas Analyzer
RGA Royal Garrison Artillery
RGA Restricted Growth Association (UK)
RGA Rate Gyro Assembly ) (St. Louis, MO) [NYSE NYSE
See: New York Stock Exchange : RGA]. The outlook assigned to the rating is stable. All existing ratings of RGA are unchanged.
A.M. Best expects the proceeds to be used for general corporate purposes including bolstering the liquidity position at the holding company. RGA's adjusted debt-to-total capital ratio was roughly 22% at September 30, 2009 (excluding other comprehensive income), garnering some equity credit for hybrid securities Hybrid Security
A security that combines two or more different financial instruments.
Hybrid securities generally combine both debt and equity characteristics. . The company's financial leverage ratios remain within A.M. Best's guidelines for its debt ratings; however, while showing modest improvement in 2009, coverage ratios have trended below A.M. Best's expectations for a holding company with an issuer credit rating of "a-".
A.M. Best views RGA's cash coverage capabilities favorably fa·vor·a·ble
1. Advantageous; helpful: favorable winds.
2. Encouraging; propitious: a favorable diagnosis.
3. , with cash flows supported by profitable operations and a strong franchise in the North American North American
named after North America.
North American blastomycosis
see North American blastomycosis.
North American cattle tick
see boophilusannulatus. life reinsurance market. Moreover, RGA maintains a favorable liquidity position, reflecting the high quality of its asset portfolio, strong asset liability management capabilities and sufficient statutory risk-adjusted capital position.
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